Welcome Back,

Big tech earnings week and US Fed FOMC tomorrow!!

Market Headlines 👀 

• US JOLTs job openings come in at 9.02m; est: 8.75m.

• US January Consumer Confidence comes in at 114.8; est: 115.

• Neuralink per Elon Musk his brain technology company has now implanted its first chip in a human.

• Apple (AAPL) vision pro product reviews are out by early consumers.

• United Postal Service (UPS) announces they will layoff 12,000 employees.

• Paypal (PYPL) announces they will layoff 2500 employees or about 9% of its workforce.

• Salesforce (CRM) announces they will layoff ~700 employees.

• Reddit the social media platform has been advised by its bankers to aim for a $5b IPO valuation; much lower than the $15b valuation the company once had.

• Amazon (AMZN) announces its terminating its deal with iRobot, the Roomba maker also announced a 31% workforce reduction.

• American Airlines (AAL) announces it will layoff about 656 employees in its customer support staff.

Earnings 💸

• Microsoft (MSFT)

  • EPS: $2.93 beats (exp. $2.77)

  • Revenue: $62b beats (exp. $61.1b)

• Alphabet (GOOGL)

  • EPS: $1.64 beats (exp. $1.60)

  • Revenue: $72.3b beats (exp. $70.1b)

• Advanced Micro Services (AMD)

  • EPS: $0.77 meets (exp. $0.77)

  • Revenue: $6.2b beats (exp. $6.1b)

• United Postal Service (UPS)

  • EPS: $2.47 beats (exp. $2.46)

  • Revenue: $24.9b misses (exp. $25.4b)

• Starbucks (SBUX)

  • EPS: $0.90 misses (exp. $0.93)

  • Revenue: $9.4b misses (exp. $9.6b)

• General Motors (GM)

  • EPS: $1.24 beats (exp. $1.16)

  • Revenue: $43b beats (exp. $38.6b)

SPX Heatmap 🔥 

Recap Around the Street 🧠

Microsoft earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

Google earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

RSI is a measure of short term overbought or oversold. It is not necessarily indicative of change in trend or momentum. Don’t be surprised if the market pulls back although big tech earnings could bring in more risk bids.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Market Preview 🎞️

• Wednesday, January 31st: MBA mortgage applications; ADP employment report; US Federal Reserve meeting

• Wednesday earnings: Boeing (BA), Mastercard (MA), Novo Nordisk (NVO), and Qualcomm (QCOM)

• Thursday, February 1st: Weekly jobless claims; Challenger job cuts; ISM manufacturing

• Thursday earnings: Apple (AAPL), Meta Platforms (META), Amazon (AMZN), Peloton (PTON), Atlassian (TEAM)and Royal Caribbean Group (RCL)

• Friday, February 2nd: Non-farm payrolls data; factory orders; durable goods

• Friday earnings: Exxon Mobil (XOM), and Chevron (CVX)

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

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That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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